Boohoo.com sales surge past £100m mark

The Manchester web-based retailer, which recently made its debut on the London Stock Exchange, said it is predicted underlying profits will have rocketed by 200 per cent when they are revealed on June 12

Fashion firm Boohoo.com today said its sales in the year to February 28 smashed through the £100m barrier for the first time.

The Manchester web-based retailer, which recently made its debut on the London Stock Exchange, said it is predicted underlying profits will have rocketed by 200 per cent when they are revealed on June 12.

Earnings in 2013 were £3.9m.

Boohoo, based in the Northern Quarter, said in a trading update: “The Board is pleased to confirm that the year to 28 February 2014 finished in line with market expectations with unaudited net revenues in excess of £109 million, being a year on year increase of 62 per cent.”

It added: “This continued strong growth is being generated by boohoo.com’s rapidly expanding customer base both in the UK and overseas.”

Founded in 2006 by joint chief executives Mahmud Kamani and Carol Kane, Boohoo now has 2.3 million active customers.

Ms Kane, who started her career as a designer then fashion buyer, has worked with Mr Kamani for the past 20 years supplying high street retailers.